Mike Huckabee presidential campaign, 2016/Banking policy
From Ballotpedia
Ballotpedia's scope changes periodically, and this article type is no longer actively created or maintained. It may also contain neutrality issues.
 Mike Huckabee |
Former Governor of Arkansas (1996-2007) Former Lieutenant Governor of Arkansas (1993-1996) |
 Republican candidate: |
2028 • 2024 • 2020 • 2016 |
This page was current as of the 2016 election.
- When asked in October 2015 if Wall Street executives complicit in the 2008 financial crisis should have gone to jail, Mike Huckabee said, "Absolutely they should have. These were the smartest people in the room. These were the people that were supposed to be the geniuses. These were all Ivy Leaguers, and they knew darn well what they were doing — shuffling paper around and getting paid ridiculous sums of money. They didn't produce things. They didn't make or manufacture. They weren't making an iPhone. They were betting on what an iPhone might be worth in a few years, and selling it off. It was a casino. And I got in trouble for saying that very thing eight years ago. I'd like to say, 'I was right.'"[2]
- Discussing the regulation of the banking industry in October 2015, Huckabee said the Dodd-Frank Act was a "terrible idea." He continued, "Dodd-Frank didn't really affect the big banks. They're bigger now than they've ever been. We reformed nothing. They're still playing games with derivatives, still playing the games, turning Wall Street into a casino. What I would do is get rid of Dodd-Frank, which [would put] the power back in community banks. Dodd-Frank has punished the banks that never created the problem."[3]
- In October 2015, Huckabee said some regulation of the banking industry was necessary. He elaborated, "I'm not sure that the repeal of Glass-Steagall was a brilliant idea because you erased the line between traditional banks. You created a blur. And I believe a lot of what we saw happen with the crash of 2008 was because banks that once were investment banks were trying to be full-service banks. And full-service banks were trying to become investment banks. It just became one great big house of cards, and it collapsed."[3]
- Huckabee said of the steep drop in the stock market that occurred on August 24, 2015, “If there had been government policies that did not favor big business over small business big banks over community banks and favor people on Wall Street versus people on Main Street. It was a disaster and it was a disaster that could have and should have been prevented.”[4]
- In December 2013, Huckabee said there was "collusion" between politicians in Washington, D.C., and Wall Street. "One hand washes another and one feeds another. And who takes it in the teeth? It's most of the working class people of America. Big banks get bailed out. Big insurance companies get bailed out. Who bails them out? Washington bails them out. Why? Because there are campaign contributions that come along with the bailout," he said.[5]
Recent news
The link below is to the most recent stories in a Google news search for the terms Mike Huckabee on Wall Street and banking policy. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
See also
Footnotes
- ↑ USA Today, "Huckabee ends GOP presidential bid," February 1, 2016
- ↑ CNBC, "Huckabee: DC-Wall Street is like a strip club," October 16, 2015
- ↑ 3.0 3.1 CNBC, "10 questions for Mike Huckabee," October 16, 2015
- ↑ Radio Iowa, "Huckabee says Wall Street woes reminiscent of ’08," August 26, 2015
- ↑ RealClearPolitics, "Huckabee: 50-50 Chance On Running For President In 2016," December 22, 2013
